Baidu has officially denied recent market rumors suggesting that the initial public offering of its subsidiary, Kunlun Core, has been delayed. The company stated that such reports are inaccurate.
Currently, Kunlun Core is in the confidential filing stage of its IPO process. Baidu noted that regulatory requirements prohibit the disclosure of non-public information, including specific details regarding the progress of the listing.
Kunlun Core submitted its formal listing application to the Hong Kong Stock Exchange on January 1, 2024, through joint sponsors. Following the proposed spin-off, the entity is expected to remain a subsidiary of the Baidu Group.
The company also initiated the listing guidance process for the STAR Market on May 7, 2026, with China International Capital Corporation acting as the lead advisor.
Kunlun Core originated from Baidu's internal intelligent chip and architecture division, which began focusing on AI computing in 2011. The first generation of the Kunlun AI chip was launched in 2018, followed by mass production in 2020. The business was officially spun off from Baidu in April 2021 after completing an independent financing round.
